Corrected: Europe May butadiene up by 21% on tight supply-demand balance

27 April 2011 17:49[Source: ICIS news]

Correction: In the ICIS news story headlined “Europe May butadiene up by 21% on tight supply-demand balance” dated 27 April 2011, please read in the first paragraph … a major producer said on Wednesday… instead of … on Thursday …. A corrected story follows.

LONDON (ICIS)--The European butadiene (BD) monthly contract price (MCP) for May has settled up by €360/tonne ($529/tonne) at €2,050/tonne, a major producer said on Wednesday.

The 21% increase was driven by the extremely tight supply-demand balance currently being seen in the global marketplace, and especially in the ?xml:namespace>US.

The settlement, on a free delivered (FD) northwest Europe (NWE) basis, was between the producer and three of its customers.

Two other producers have confirmed the settlement, but confirmation from the buying side was still pending.